tv Business - News Deutsche Welle July 4, 2020 1:15am-1:31am CEST
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another visitor another years you want to become citizens. in for migrants your platform for reliable information. the european commission has given conditional approval for the use of antiviral rendez evie or making it the 1st also rise therapy to treat covered 9000 in the e.u. problem is the u.s. has already bought up most supplies of the drug also coming up another round of talks between britain and the e.u. have ended without success is a no deal bricks it unavoidable. and how the coronavirus pandemic turns an empty airport in spain into a look written business model. hello and welcome to the business i want to get
johns and berlin good to have you with us the european commission has cleared the way for antiviral drug rim disease via to be used for treating coronavirus in the e.u. but this is a catch renda stevia is produced by a u.s. based gilliatt one of the most profitable pharmaceutical companies worldwide sales reaching 22000000000 dollars last year the u.s. has already bought up most of the drugs production capacity as negotiations with e.u. supplies are underway you officials say they could give german and all the e.u. drug makers a license to produce the drug even without to get approval for an appropriate feat . so how significant is the use approval of via our financial markets correspondent chelsea delaney has more. disappear has been officially approved by the e.u. but whether there will be any of the drug available to your members is a big question right now the u.s.
has bought about 90 percent of the available supply there september so this is obviously stoking a lot of concern here in europe about what would happen if we saw a 2nd wave of infections here as well at the same time this is reigniting all these fears about the very nationalistic and 1st approaches of some countries to coronavirus vaccines and treatments the 1st face to face brics is talk since the coronavirus pandemic began have ended a day early and with the 2 sides no closer to a deal failure to reach an agreement by the end of the year could have a major impact on businesses already reeling as a result of the pandemic. this was the moment britain officially left the european union. it was january 31st and nothing really changed. instead a transition period began giving both sides 11 months to decide on the future of
their relationship 6 months on an agreement still seems a very long way off. this week the 2 sides met for their 1st face to face talks since the coronavirus struck the hope was that they could make significant progress towards reaching a deal on trade and other issues by october. but it wasn't to be negotiations ended a day earlier than planned and german chancellor angela merkel raised the possibility of the transition period ending without an accord. me fighting for and continue to fight for a good solution but the e.u. and germany must and should be prepared in case we don't reach an agreement on the . major sticking points include fishing rights defining a level playing field for businesses and the role the european court of justice could play in enforcing any agreement. the stakes are high without
a deal economic ties will resort to world trade organization standards meaning high tar if squoze us and even more disruption to businesses are ready struggling because of the pandemic companies are understandably rather pessimistic. recent survey by the german british chamber of industry and commerce found that only 8 percent of businesses expect a comprehensive free trade agreement to be reached by the end of this year. earlier we spoke to one of the shopper of the british german chamber of commerce and we asked him on the worst case scenario of a new deal breaks it could mean for trades and the economy on both sides of the channel. so i think there will be disruption at the border there will be extra tariffs and quotas and we've seen the new customs tyra's from the u.k. so i think that will lead to various consumer price inflation issues and
a lot of our yes it will lead to destruction and trade and will probably create another hit on the u.k.'s g.d.p. of more than 2 percent and that's more business than i expected for nokia scenario so i think that it's just really avoidable if we come to a deal and therefore it is important that both sides actually take all the energy and efforts to to come to. a brief look now at some of the other business stories making news. consuls in europe are expected to drop 25 percent this year compared to last the projection comes from germany c.d.a. and automobile sector lobby group production cuts and supply chain disruptions caused by the coronavirus have dealt a heavy blow to an industry that had already been struggling with weakening demand . germany's largest bank is ready to support wire caught after a major accounting scandal left the fin tech giant insolvent banks says it's open to propping up the company's banking unit why
a constant lies came after an order to revealed a nearly 2000000000 euro hole in its accounts. the spanish government unions and business leaders have signed a deal to reactivate the country's economy and create new jobs in the wake of the coronavirus they called includes financing for spain's digital transformation and assistance to the struggling tourism sector spain is said to invest 150000000000 euros in a plan financed by e.u. funds. not before the financial crisis spain was busy building several airports that unfortunately never really took off now the coronavirus pandemic has created an unexpected business opportunity in the north eastern province of aragon airlines have found the perfect parking space for the grounded aircraft. from a distance terra looks like it could be an airport but the closer you get it becomes plain no hordes of holiday makers will be disembarking here last year more
searches from the start we set out to specialize a services company for the loans. no arrival and departure lounge is here just hangers and lots of space in turmoil 115 aircraft are waiting for better times left terms alone has part 30 of its fleet here. yet field operators are very happy with their business model. the future looks very promising huge growth potential. we are just about reached full capacity in this the moment the greatest on however no we're negotiating with the airport operator about expansion up with you got this especially now a couple of times a 380 is a purpose here the world's largest airline a test well doesn't have the hang of facilities for these giants to carry out the necessary preparations packing an aircraft means more than just letting it stand
around it needs preservation measures and regular maintenance. there's little sign of an airline sector recovery interval well a couple of planes being readied for service again but pedro size things that's just a flash in the pan. blusher spec but the washing of the most optimistic economic forecasts point to a market recovery at the end of 2021 or early 2022. b. those that means those planes will be back after this year's summer season and many of those 2. rigs are only as europe's biggest airline parking lot and the signs point to many more needing space here and if in the end no one wants to put them back into service they can be scrapped here as well. is also a potential aircraft graveyard. to africa where many people rely on remittances from family and friends working abroad and here the consequences of a pandemic are especially grave our next report takes us to somalia where the lock
down is making life hard for everyone from ellen work us to talk to drive us. once upon a time took took drivers in the somali capital mogadishu could make a pretty decent living after all in normal times people were always looking to get from a to b. . when the coronavirus hit in mid march everything changed. before the coronavirus are used to earn a good in mind $25.00 to $30.00 u.s. dollars a day but now teachers and students are no longer going to school and airline workers have been sent home because the airport is closed you know they have with. the pandemic is laying siege to what was a ready a highly fragile economy where violence has left hundreds of thousands of somalis displaced and a further 5000000 reliant on food aid. the coronavirus has inflicted losses on countries around the world and especially here
in somalia somalia is a devastated country that still recovering from years of war and conflict its economy has been gradually rising from the ashes this year growth was expected to hit 3.2 or 3.3 percent but these projections have been badly damaged by the virus the aviation industry has been hardest hit. according to the african union in the past 3 months the continent has lost almost $55000000000.00 in potential tourism and travel revenue. as the virus continues to spread that figure will rise in countries with especially precarious economies many no longer know where their next meal will come from. necessity is the mother of invention and that's true even during a pandemic when lock down stop us from doing the things we enjoy most officials at taipei international airport came up with an idea to help those who miss flying
a flight to nowhere organizers say 10000 people took part in the draw and 30 lucky winners were chosen they could take a friend and where given the chance to check in walk past duty free shops and board a plane which remains grounded of course it even included a water spraying ceremony and spent the whole nobody lost any latin church. and that's your business update you randy w. from me and the team in berlin as always thanks for keeping us company.
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